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Since gold started to be mined thousands years ago, it has been used not only as a commodity, but also as a currency and above all as the supreme store of value. In this paper, I perform a theoretical and econometric analysis of several indicators that could drive gold price. Does the "golden constant" appear to be right? Is gold an inflation hedge on short-term periods? Does gold act as a currency hedge? These are currently the indicators that are supposed to drive gold price. But new indicators appeared in the 21st century, influencing drive gold price: Central Bank demand, demand from Asia…mehr

Produktbeschreibung
Since gold started to be mined thousands years ago, it has been used not only as a commodity, but also as a currency and above all as the supreme store of value. In this paper, I perform a theoretical and econometric analysis of several indicators that could drive gold price. Does the "golden constant" appear to be right? Is gold an inflation hedge on short-term periods? Does gold act as a currency hedge? These are currently the indicators that are supposed to drive gold price. But new indicators appeared in the 21st century, influencing drive gold price: Central Bank demand, demand from Asia or uncertainty coming from geopolitical and political turmoil. Does Gold act as a "safe haven asset"? A currency hedge? An inflation hedge? You will find out in this paper.
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Autorenporträt
Thibault Laffon is from Paris. He has received his MSc in International Finance from HEC Paris. He is currently working as ENGIE Global Energy Management, Graduate Program.